Monthly Archives: January 2013

Crisis, Money and Capital in 1861-63.

From crisis and its relation to the commodity and money, Marx then moves to capital: But now the further development of the potential CRISIS has to be traced — the real crisis can only be educed from the real movement … Continue reading

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Crisis and Money in 1861-63

Marx’s discussion of crisis then moves from the fundamental contradiction in the commodity to money: the crisis in its second form is the function of money as a means of payment, in which money has 2 different functions and figures … Continue reading

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Crisis in 1861-63 IV

Another note on how crises arise from the fundamental conditions of the capitalist social form. From what I recall Heinrich identifies the following in his introduction to capital and his comments on the crisis: The general, abstract possibility of crisis … Continue reading

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Crisis in 1861-63 III

There’s quite a few interesting passages in the 1861-63 Manuscripts outlining how crisis is endemic to the specifically capitalist form of social labour. One of the reasons is neatly outlined in the following: The possibility of crisis, which became apparent … Continue reading

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Crisis in 1861-63 II

Also prescient: In the crises of the world market, the contradictions and antagonisms of bourgeois production are strikingly revealed. Instead of investigating the nature of the conflicting elements which erupt in the catastrophe, the apologists content themselves with denying the … Continue reading

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Crisis in 1861-63.

Rather prescient I reckon: When speaking of the destruction of capital through crises, one must distinguish between two factors. In so far as the reproduction process is checked and the labour process is restricted or in some instances is completely … Continue reading

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Marx Contra Subjective Theories of Value.

A good quote that I’m surprised I haven’t seen to criticize the old chestnut that the labour theory of value was superseded by modern economic theories: It must never be forgotten, that in capitalist production what matters is not theimmediate … Continue reading

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